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TimesLiveTimesLive18/07/2025
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LISTEN | Economic uncertainty cannot be new norm, says Canada at G20

LISTEN | Economic uncertainty cannot be new norm, says Canada at G20

Executive Summary

Canada's Finance Minister Francois-Philippe Champagne warned that major economies cannot allow uncertainty to become the new norm amid growing trade restrictions and tariffs, speaking at the G20 finance ministers' meeting near Durban overshadowed by U.S. tariff policies and the absence of the U.S. Treasury secretary. He expressed cautious optimism for a final communique, noting uncertainty dominated discussions and predicting trade rebalancing through diversification, new alliances, and shipping lanes. Champagne called for G20 statements to restore business and consumer confidence via infrastructure investment and African development, highlighting the continent's $3.4-trillion economy and young population as the future, while stressing stability, predictability, and rule of law to attract investments.